Yesterday’s High-Low Breakout Entry Rule

Summary

The described expert advisor compares the current day’s closing price with the previous day’s high and low. When price crosses above yesterday’s high or below yesterday’s low, it opens a position in the breakout direction. A stop loss and take profit are attached when nonzero values are configured.

The system permits only one open position at a time, which allows it to operate with either hedging or netting account types. The document gives a brief rule description and a breakout example, but does not specify the instrument, timeframe details beyond the daily reference levels, exit parameter values, or any backtest evidence. It therefore explains a simple prior-day range breakout entry mechanic rather than demonstrating its profitability or risk characteristics.

Key ideas

• The entry trigger is a break above the prior day’s high or below its low.
• The strategy opens a position as soon as the current price crosses a prior-day boundary.
• Stop-loss and take-profit orders are used when their configured values are nonzero.
• Only one position is held at a time, supporting both hedging and netting account types.
• No performance data or detailed risk analysis is provided.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.